These questions are kind of copy-pasted from the book “getting everything you can out of all you have got”
Every business owner needs to know what their business success, or lack of business success, is based on.
They don’t ask themselves the right questions because they don’t know the right questions.
You need to know exactly what your strengths and weaknesses are and how they relate to your competition.
If you don’t do that, it’s impossible to achieve the goals you are after.
So the first thing you need to do is;
- Understand where you are.
- And determine where you want to be.
And by answering these 50 questions you will understand the strengths and weaknesses of your business.
1. What initially got me started in my business(what motivation, occurrence, etc.)?
2. When I first started, where did my clients come from (what process, method, or action did I use)?
3 Why did clients originally buy from me ?
4. Why do clients buy from me now?
5. What primary method of generating clients was used to build my business/career?
6. Which of my marketing or sales efforts brought in the bulk of my sales or clients?
7. Do I test the various aspects of my marketing and selling activities to make sure they’re producing the best and most
8. How well connected or how involved am I with my clients?
9. What ongoing sales/networking efforts do I personally perform today? How do these functions differ from those I performed when I started my business/career?
10. Where do my clients come from specifically (demographics)?
11. Would I rather attract more new clients or garner more money from my existing clients, and why?
12. Who else benefits from my success, excluding my clients, my employees, and my family members?
13. How many of my suppliers/business colleagues would be motivated to help me grow my business more because it
will directly benefit them at a very high level? Who are they?
14. When I create a new client for my business or profession, who else have I directly created a new client for?
15. Describe completely what my business/career does (what I sell, how I sell it, and whom I sell to by industry, commercial category, or specific niche).
16. What is my business philosophy as it relates to my clients?
17. How have my methods for doing business changed since the inception of my business?
18. What are my sales per employee? Is that above, below, or equal to my industry average?
19. What is the lifetime value of my typical client?
20. What is the biggest client complaint about my company, and how does my company successfully address this problem?
21. What is my unique selling proposition? (Why do my clients buy from me-what is it about my product that distinguishes me from my competition?
22. Is my unique selling proposition a consistent theme in all of my marketing and sales efforts? If yes, how, and if no, why not?
23. Briefly describe my marketing program or marketing mix (all the different types of marketing I use and how they interrelate – sales emails, website, ADs etc)
24. Who are my biggest competitors and what do they offer that I do not?
25. What steps do I take to offset their advantage? Are they working?
26. What is my competition’s biggest failing, and how do I specifically fill that void?
27. What do my clients really want (be specific, don’t just answer “a quality product”)? How do I know?
28. Do clients buy from me exclusively or do they also patronize my competitors? What steps can I take to get the main portion of their business (preempt and dominate)?
29. What’s my market potential and my current share of that market?
30. What does it cost me to get a new client? For example, advertising cost.
31. What is my biggest and best source of new business, and am I doing everything possible to secure this business?
32. What has been my biggest marketing success to date (defined as a specific promotion, advertising campaign, sales
33. What is my biggest marketing problem or challenge today?
34. How many better ways could I reduce the risk of transaction, lower the barrier of entry, or reduce the hurdle for my
client to make it easier for that person to do business with me?
35. After the initial sales, are there systematic, formal methods I use to communicate and resell to my clients strengthening the relationship and bonding them to me?
36. Do I have an adequate supply of client testimonials, and is there a system in place for their capture? Are they written, on audiotape, or on videotape, and how are they used in my marketing??
37. Do I actively solicit referral business?
38. Have I ever tried to reactivate my former clients and unconverted prospects? Do I maintain systematic contact?
39. Have I ever tried selling a list of my unconverted prospects to my competitors, or turning enemies into allies?
40. Do I make consistent efforts to communicate with my clients about what my company is doing to help them?
41. In what ways do I try to up-sell my clients?
42. Do I need to make money on first-time buyers, or am I satisfied with only making it on the back end (reorders), short- or long-term strategy.
43. Do I ever barter my products, services, or assets with other companies in exchange for their products, services, or
44. What kind of guarantee or warranty do I give my clients to take away the risk of the transaction, and how does it’ compare with my competitors’ or what the industry at large offers?
45. What is my client attrition rate?
46. How do I capture the names, addresses, and phone numbers of all my clients and prospects? Do I use them in my marketing programs?
47. What is my average order, transaction size, amount, and what are the steps I can take to increase it?
48. How much is the initial sale to a new client worth?
49. Do I use a list broker or data experts? If not, where do I get my prime prospect names?
50. Do I joint-venture my client names with other companies? If so, what were the results?
You can’t make the best decisions, or focus on a big goal until you first evaluate all the options and opportunities, and business intelligence you have available to you.
So, identify what you’re doing right and what you’re doing wrong. What you could be doing better, differently, more effectively, and more profitably.